May 2013

Found 11 blog entries for May 2013.

For the first time in 79 years, the Federal Housing Administration (FHA) will not show a self supporting year (2013). In order to make up for this defecit, taxpayers may be required to subsidize the lack of funds for up to $16.3 billion. But, within this costly news, there is also something encouraging.

Home prices are on the rise in this 2013 real estate market. This increase in property prices will surley make up for some of the defecit seen in the budget - a shortfall stemming from the 2007-2009 market crash. The price rise is really two-fold in nature: 20 of the major cities in the US have shown a 6.8% increase in price for the year, and home prices in general have jumped 6.5% overall.

So, what does the future look like for the FHA?

The FHA will

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Thinking about moving to the Detroit area? Worried about finding things to do? Check out these hot events coming up this week!

Baconfest
Saturday, June 1
A celebration of all things bacon! Located at the Royal Oak Farmers Market. Get your tickets now. 

Star Wars Fan Art
Ends Saturday, June 1
Various types of art showcasing artist love for Star Wars 

Free Fly Fishing Clinics
Ends June 16
Each Saturday and Sunday, Orvis stores are offering free fly fishing classes for all ages. Please RSVP before coming.

Want to find out more? Check out our source. 

Lang Premier Properties is home to a leading Oakland County Short Sale Realtor. Specializing in all aspects of real estate including Royal Oak, MI short sales, foreclosures and working with home

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It's no secret that the real estate market is making a big comeback from the crash it suffered a few years back. While many would agree that it still has a way to go before it is thriving, many agents and companies are eager to show their numbers this year.

The annual Power Broker Report by RISMedia is celebrating 25 years this year, and because of that, it has published the most extensive data it has ever put out in an effort to look deeper into why the market is recovering so well. You'll also find the top 500 ranked firms, advice from top power brokers, and interviews with leaders of the industry.

For the most complete and up to date real estate information, check out the annual Power Broker Report by RISMedia.

Lang Premier Properties is home to

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Search Other Waterfront Homes in Harrison Twp., MI

Property Details

4 Bed | 3.1 Bath | 4,600 Sq Ft | Built 2002 | 2 Stories

Description

This beautiful Harrison Twp. colonial home is located on the western shores of Lake St. Clair. From the limestone entryway to the accent pillars and chandelier upon entering, this home is the definition of extravagance. To add to the grandness of the home, the gourmet eat-in kitchen comes complete with Viking and SubZero appliances. The Beckerman cabinets and recessed lighting make this space perfect for entertaining. 

Special touches in the home include limestone, marble and hardwood floors, detailed custom glass backsplashes, 8 inch crown molding, 9 foot ceilings, a 3-sided imported marble fireplace, zoned

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Lang Premier Properties just sold another short sale home in Grand Blanc, Twp., MI.

This four bedroom, 3.5 bath home in stunning on the inside and out. The inside is incredibly spacious and features a beautiful entry way, a den that can be used as an office, a large living room, a breakfast nook, an ample kitchen, formal dining room, half bath and first floor laundry. And this is all on the lower level!

Upstairs, new owners enjoy two full baths, and four large bedrooms. The master suite includes a walk-in closet, double sinks, toilet closet, jacuzzi tub, and beautiful windows. Downstairs, the walkout basement is completely finished.

Outside of the home features a multi-level deck with access to the backyard and a handsome brick patio. The house also

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Lang Premier Properties has just sold another bank owned property in Oak Park, MI.

This forclosure sale is a unique three bedroom, two bathroom cape cod property located close to the heart of Downtown Ferndale. It features slate floors, granite kitchen countertops, newer bathrooms, a shed and patio with fenced in back yard.

It was made available for the Freddie Mac First Look Iniative and the seller offered up to $500 for buyers choice of home warranty.

This home was truly a deal!

Lang Premier Properties is home to a leading Oakland County Short Sale Realtor. Specializing in all aspects of real estate including Royal Oak, MI short sales, foreclosures and working with home buyers and sellers with Macomb County Luxury homes. When you hire Lang

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Not so long ago, the only real option for a potential home buyer was to put down 20%. With a shift in our society's economics (more student loans, higher unemployment, a new generation of buyers, increasing FHA loans, etc.), many loan companies are easing up on this stipulation, and they are offering loans for as little as 3%.

Of course, putting down less than 20% comes with stipulations: you will need to aquire PMI insurance. But, the fact that buyers can now buy a home with little money down makes owning a home a real option for more and more Americans. According to this source, "Low LTV's and high credit scores were the rule recently for the private insurers, but that may now be loosening, making these loans cheaper than FHA."

So, if you're in the

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Lang Premier Properties has just sold another bank owned property in Clarkston, MI.

This condo is eligible under the Freddie Mac First Look Initiative plus $500 toward buyer choice of warranty.

It features two bedrooms and two bathrooms with a walk-in closet and bath in the master bedroom and has hardwood floors in some areas of the home. It has a one car attached garage, central cooling, and comes with all of the conveniences of living in a condominium neighborhood.

Lang Premier Properties is home to a leading Oakland County Short Sale Realtor. Specializing in all aspects of real estate including Royal Oak, MI short sales, foreclosures and working with home buyers and sellers with Macomb County Luxury homes. When you hire Lang Premier Properties,

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If you are currently in the process of buying a home under and FHA loan, these new regulations apply to you.

New FHA Regulations

If an FHA buyer is not under contract this week, they will be subject to the new FHA guidelines that are rolling out. These changes include:

  • PMI insurance throughout the lifetime of your loan
  • The current PMI rate for a 30 year loan is increasing from 1.25% to 1.35%
  • 15 year loans will also increase by .10%
  • Any FHA loan over 90% loan to value will be subject to PMI for the life of the loan
  • Any FHA loan under 90% loan to value will be subject to PMI for an 11 year period

What does this mean for buyers?

Speak with your loan company ASAP to see how this will affect your loan and if your loan can be approved

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While foreclosures and short sales are on the decline, many Americans are still finding themselves in a situation where they are having trouble paying down their mortgages. But, there are responsbile things home owners can do. Check out these 5 tips for paying down your mortgage.

1. Refinance: Interest rates are declining and you may find that you are able to secure a rate well below 4%. Obviously, with a lower rate you will be paying less money overall on your mortgage.

2. Pay in Advance: Be sure there is no penalty for over paying on your mortgage, and then start making extra payments (if you find you are able to do so). By making payments more often and earlier, you are cutting out the time that interest is acruing, therefore, saving money.

3.

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